I don't know what this is, a vent perhaps?

[MissLou]

Hello geeks,

As above i don't know what this is i just need to type and air my thoughts. Please feel free to air your views, opinions, advice or if you think i'm a looney that's escaped from the looney bin!!!!

First of all, I am becoming very frustrated that as a young single hard working women i can still not and probably never will be able to buy my own house. I'm stuck living somewhere that drives me up the wall! But its the best rent, best location i could find and central to all my work, I pay over the odds for what i get but its the cheapest. I looked today at what you need to do for first time buying, its clarified that for me its never going to happen, even if i move back home theres no way i can afford to save thousands of pounds for deposit let alone all of the fees they put on top,how do people do it??!?!?! there's no reward now for hard working ppl who just want to get on in life, its so frustrating, but i cannot do anything about this….That was just a lead up to my main…..vent/question/rant??….lol

I have for the last year worked 2 jobs, i am part time mobile hairdresser and part time salon based, i love the salon i love my mobile, i choose to do this 1) i have guaranteed income form the salon so i don't have to panic over bills 2)i can keep up with trends, training and speed working in a salon
3) i get to still work with other stylists and have some social time with them
4) i like to have variation in my work, doing either of them full time i'm not keen on.

In the week i had a review, I'm not happy. My salon manager knows my private business where as my big boss does not because if they did i would be sacked right away due to possible poaching, which will never happen i wont go into those reasons now. So the boss has told me after being there for 3 months, because i am not making them £2000 a month i am to go work in another location 2 days a week giving me an extra day a week, this has totally screwed me over! I have no say in this, if i refuse i walk, I now have no time to fit everything in around it, some weeks now can be a struggle but i manage it and now this is making it almost impossible. Im really angry because these bosses don't seem to give ppl a chance now to build up and build there column, mine is building very well, my regulars are improving etc etc as they will over time. So cut a longer story short, i've been thinking things over in my mind on my own and i think i have come to the decision that salon and private work just aren't going to work for me anymore, as hard as i try they just conflict each other, so I think i'm going to go full time self employed again.

I want to do this slowly and be prepared to go back on lower earnings to start with while i build again but as a bonus i have already a few. It's a shame with the salon, but in my experience, i have no say, my opinions don't seem to count, I will never earn them enough, theres no gratitude, the list could go on. So my plan is to work out how much i currently earn from privates, re build my website, twitter page, fb page, get everything set up in place and ready, get all my paper work in order, get really prepared, build up my stock while i have an income from the salon job and then in say 3 months time, go for it!

I have the advantage of care homes and a few private clients to keep me going until i can build up…….I just don't see any light at the end of the tunnel for salon work anymore, its just been one massive ball ache!!! (not that i have balls lol)

Going back to the whole house buying thing, i know i'm never going to be able to do that but i know now i certainly won't be able to earn anything comfortable on a salon wage, i hope if i go self employed i can earn double the salon which at the end of the day i need to live like everyone else, im getting fed up of putting in the hours and earning hardly anything! my friends are all on at least £10 an hour and thats for unskilled jobs mon-fri 9-5 with an hour lunch!!-:Z angry face, with my privates currently i can earn double in a day than my salon wage (im 28 and on minimum wage-how do they expect us to live?!?!) i'm not afraid of hard work, i like hard work but i want to see results and be able to live like everyone else and not scrimp and save and bumble along anymore.

If anyone thinks im crazy or has been in a similar situation and has done this, please tell me your ventures, as i said i don't know if this is venting or asking for help, i just need to tell someone as ppl around me never understand what i'm saying with my work, they just oh just stay at the salon or just do this, never helpful and i feel at this time i need some neutral points.

So geeks thanks for reading and fire away anything you want to say to me

thanks hugs and kisses xxxxxx

 

[dandelionpoppy]

Would the government "Help to Buy" scheme be of any use to you?

I'm sorry I can't help on the rest. It seemed that you are working 1 day a week at the salon (based on the fact that 2 days in another salon means doing 1 day more than you are now). It seems a hard ask to make 2k profit a month.

 

[Stephanie13]

No advice im afraid but I know exactly how you feel iv lived on my own since I was 16 worked done college ect im now a single mum iv literally supported myself since the day I left school and my reward? I cant afford to drive ill NEVER be able to afford to buy a house and friends the same age as me are driving nice cars and buying houses because they were luck enough to stay at home till mid 20s rent free and not have to worry about rent or bills it really winds me up! But never mind im going to do my best I hope someone has some good advice for you as I kinda just joined in the rant hehe

<3 Stephanie <3

 

[xxAmyxx]

Just wanted to say I know how you feel about the house thing, I'll probably never own my home, very disheartening.
For help to buy you still need 5% deposit which could be thousands; impossible to save on minimum wage.

 

[loulou86]

On the house thing... Me and my fiance bought our own house almost 4 years ago now - despite the fact that he has a good job and I had ok-ish earnings at the time (this was before I went into beauty) we could never have afforded to buy our house without the Help to Buy scheme. You need a 5% deposit which is much more achievable.

We are now looking to move at some point early next year, it's amazing to see how much we have made on ours and this will help us to buy something bigger when we do move.

There are a few downsides to the scheme (such as a largish amount of money from the sale of our house will go straight back to pay off what we borrowed but it doesn't really matter as we will have the £20k we need for a deposit on our new house from the remainder of the money).

Definitely something worth considering if you want to buy your own home because it's such a nice feeling knowing it's all yours

Just to add you can do the help to buy scheme on new build and older houses

 

[loulou86]

One last thing, a 5% deposit for us was just £6k - I know it's still a lot of money but a lot more achievable than 20%!

We have a lovely 2 bedroom coach house and its a perfect first home we never would have had without that bit of help

 

[persianista]

It's never been easy to buy a home on a single salary. It's no different now than it's ever been.
Try and get a second job? Bar work or something? And save obsessively. Get the cheapest mobile, cut out holidays, stop shopping. Sell unwanted stuff at boot fairs or on eBay.
There is always a way, it just may not be what you want to hear..

 

[Mobile Manicure]

I think the UK is steering more towards a renters market like Europe. In countries like Holland, hardly anyone owns their own home. My parents never owned their own home and rented their whole lives. My 63 year old brother has just bought his first home. Owning your own home is a real privilege but it seems that in the UK everyone thinks it's their right.

Now I'm not saying it isn't your right, but if it's unaffordable, it's unaffordable and we have to suck it up. I saw it mentioned on a current affairs programme only this week that the UK home owner mentality will gradually be steering more towards the attitudes in Europe.

Anyway, I'm sorry this doesn't help you but it may reassure you that you're not alone. :hug:

 

[KHS]

Um.afraid I have to agree with MM. But you won't want to hear this either :-(

The new laws as of April 2014 are considered crazy! You will not be granted a mortgage if you have say gym memberships, high mobile phone bills, regular high hair services ( yep! You read that correctly)

They scrutinise absolutely every outgoing on your personal/social life, including the foreseeable mortgage interest rates over the following 5 years.

My sister and her fella have just gone through this. They are both self employed, relatively high wages between them, can more than afford the re payments both squeaky clean credit ratings, pay their credit cards off each month...and no bank would touch them with a barge pole! :-(



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[persianista]

To be honest, if you cannot save up, then you simply can't afford a mortgage. Bear in mind, home ownership doesn't stop with paying back the mortgage. You have council tax, utilities, TV licence etc on top.
So if you cannot save at least 1200 a month, you can't afford to live alone.
From my own staff, they seem to think they should be able to live in a fabulous, brand new flat, still go on at least two holidays a year, have an iPhone, and eat out at least once a week, as well as run a car, and buy new clothes every week. It's simply not realistic at the start of your career.
When told this, they make excuses for their decisions, such as:
I gotta have a phone.
Everyone needs a holiday.
It's only Primark clothes.
I can't live in a cheap area, it's not safe.

With money, you can only spend it once. For every £500 you spend on a holiday, that's £500 you're not saving for a deposit. For every £50 night out, or £50 spent on clothes, ditto.
I bought my first flat at 21. I put down a 50% deposit. I had no family money, or help, just savings. Mortgages were hard to get in those days too. I had to have an interview for mine. Interest rates were 15%, so my mortgage cost me half my take home pay every month.
It's never been easy.

 

[Mobile Manicure]

My daughter who is now 12 is expecting to drive herself to school when she's 17. REALLY!?!? Who's buying the car? The petrol? The insurance? The lessons?

"Oh but I see loads of girls with little minis and Fiats driving to school". Yes, these are the ones with very rich parents. You're not one of them, and neither are your friends so you won't be left out.

She's going to get a shock when she gets older as she is going to be one of those ones that Persianista has quoted wanting her own flat, holidays etc. at the age of 21.

 

[hazeleyes]

It's crazy hard now to get a mortgage, harder than ever! I've given up hope entirely. I feel so jealous when my parents say "my first house cost me 12k". I know it's all relative and 12k was a lot of money 30 years ago- but it's widely known that getting on the property ladder now is harder than it's ever been. My 2 bedroom flat is worth in excess of 300k!

I've got two kids and really need a 3 bedroom home so there's no way I can save enough money and honestly I probably couldn't afford the repayments. The only option for me is shared ownership schemes which I don't think are the best option.

5% on a property for my needs in my area would be round about 20k. It doesn't start getting cheaper for miles! I live in central London but if I wanted to buy I would need to move to Kent or Hertfordshire! I have no friends or family there so it would be like starting again. I have considered it but it's about weighing up what would make me more happy!

 

[hazeleyes]

One of my clients has a lovely 4 bedroom 3 storey house literally on the banks of the river Thames :- "oh we bought it in 2001 for 200k, and now we are selling it and it's worth over £500k"

Why oh why wasn't I born 10 years earlier??!!


:-(

 

[dandelionpoppy]

In some respects it was easier to get on the housing ladder in the "old days". BUT......we had the house, but no possessions. Prsonally, we had no phone at all, not even a land-line, second-hand furniture, no carpets, no holidays, etc. We had 1 car between us, so I had a long walk to the bus-stop, often with heavy bags of books I had taken home for marking. We rarely went out and didn't have as much as a bottle of wine in the house. We gradually bought stuff as we went on, although I still happily buy second-hand if I see a bargain.....and that's 40 years on.

We do have a lovely home now, but it's very old and needs constant money spending on it. I'm glad I have my own home, but when expensive repairs occur it's not so good! (Oh, and we have wine. It just doesn't last long.)

 

[persianista]

It's all relative. It was no easier years ago, I promise. My grandma bought her house for £350 which was a fortune in those days.
Everyone has always struggled, it's just that our expectations were lower in those days.
I too lived on bare floorboards, and had furniture donated by friends and clients.
I also can't afford to live in Central London, unless I wanted to live in a tiny house. My other half has to commute in every day. It's the price he pays to live in a nicer house.
There are plenty of commute able places around London, that offer reasonably priced housing.

 

[Mobile Manicure]

My husband (before we were married) worked overseas for 3 years in order to save up for a deposit.

The first house we bought was a dump. We ripped out all the smelly brown shag pile carpet and also lived on floorboards until we could afford to buy carpet. We had no kitchen for 2 years and I cooked on a portable 2 ring electric hob and mini oven/ grill. We had no central heating the first winter and froze.

A friend's mum took pity on us and donated her old velvet floral suite. At least we had something to sit on.

I don't know how many would be prepared to do that nowadays. We didn't go out, didn't have holidays and just saved and saved until we could afford what we needed. Nothing went on credit.

It certainly wasn't easier back then but I think we were just more prepared to give up luxuries for the end goal.

 

[carlyema]

Me and my fiancee are both on decent wages but we have no intention of saving up to buy a house. Not in the near future anyway. We are renting a beautiful house, pay our bills, paying for our wedding next year and enjoying life to the max with no worries because we dont think its 100% necessary to spend your whole life worrying about morgage repayments on a house thatll be left after you when you die anyway!! House ownership is over rated

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[hazeleyes]

Yes I think what your all saying is very true about possessions (or lack of) nowadays people aren't ok with having a home which isn't decked out with all the mod cons so it very quickly becomes even more expensive. The tv must be huge, the kitchen hi tech, carpets, the most expensive and luxurious.

I'm not criticising people either as If I'm honest, I am one of these people. I think we don't realise it a work in progress- this is because we see what our parents have and automatically want it. We are spoilt.

Many of us aren't prepared to go without to get the bigger goal. I can't save because I want the holiday, the new car, the nights out with cocktails and dinner. I'm happier renting my home as squandering my cash (for now) although I expect that will change.

 

[waffle4]

My husband and I married very young and we lived with my mum for nearly 2 years whilst we saved up the deposit for the mortgage. We also only got a mortgage based on my husbands wages as we knew I wanted to give up work and be a full time mum once we had a baby. We sacrificed holidays and nights out to get that deposit and when we moved in it was furnished with hand me downs until we could afford to replace them - by saving up again, nothing on credit. People nowadays can't seem to grasp the concept of waiting and saving and just think to bung everything on the credit card but that can spiral into deeper debt.

I do agree its so hard for youngsters to get a foot on the housing ladder nowadays though. My niece and her partner have just bought a house but only because his wealthy parents helped with the deposit.

I feel so sorry for those just starting out now.

 

[waffle4]

Me and my fiancee are both on decent wages but we have no intention of saving up to buy a house. Not in the near future anyway. We are renting a beautiful house, pay our bills, paying for our wedding next year and enjoying life to the max with no worries because we dont think its 100% necessary to spend your whole life worrying about morgage repayments on a house thatll be left after you when you die anyway!! House ownership is over rated

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I can actually see the reasoning in this. Especially as you may be forced in old age to sell the house to pay for care costs so wouldn't have anything much left to leave as inheritance anyway!